Question

Need help clarifying how my debts are being reported to the credit agencies?

I have an original debt from 2001 which was never paid. I never had any contact with the lender after I defaulted yet it reappeared on my credit report as a new debt 10 years later. And the original one still shows up as well. I am so confused. Is this legal? Its been 14 years since the original default. I thought it was supposed to come off after 7? I wrote the the creditors and received no reply.

All Responses

Unless it was some type of federal loan or judgement on any loan, then it should have been removed after 7 years. If this account was not a federal loan or judgement, then you should dispute the account as "too old to report" directly with the credit bureau(s) reporting it. You should do some reading on FDCPA (fair debt collection practices act) to see if you can hold this company accountable for any violations of your rights.

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